Monfries will join Port, accepting a four year deal, in exchange for the Power’s third round draft pick (48). As a free agent, Monfries could have moved to Port for nothing, but if that occurred the compensation Port would have received for losing Troy Chaplin and Danyle Pearce would have been diluted.

Having brought Brendon Goddard into the club as a free agent, Essendon would not have received a draft pick in compensation for losing 25-year-old Monfries, as all free agency compensation is based on a net result of free agents coming and going from the club.

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Essendon made Monfries a two-year offer to remain at the club but the South Australian-born Monfries accepted the security of the longer term deal at Port.

Essendon has also been keen to remove some money from their salary cap after recruiting Goddard on a multi-million dollar four year deal.

"At the end of the day, Angus had an offer in front of him that we believe truly reflected his position at Essendon, but he has made a decision to secure his financial future and we have to respect that," Essendon coach James Hird said on the club website.

"We thank Angus for all his hard work over the years, and we wish him all the best for the next chapter in his career."

Monfries was happy with the deal.

"I've loved playing for Essendon and I sincerely thank everyone there for the opportunities they’ve given me," Monfries said.

"I will miss Essendon, but it will be great to come home and play in front of my family and friends and help Port Adelaide get back to where it wants to be.

"That challenge is a big part of the appeal for me.

"I am someone who likes to get the best out of themselves and coming to Port Adelaide I will work to get more opportunities to do that."

Monfries said he was also looking to push up into the midfield.

Port Adelaide general manager of football Peter Rohde pointed out that Monfries has averaged 19 games per year in his eight-year career.

"Angus is a player with great character who has been shown to have a really good record of durability throughout his time at Essendon," Rohde said.

"He will bring us flexibility, too, because although he’s played most of his AFL football as a forward, we can see him getting regular opportunities and performing to a high standard in our midfield as well as going forward.

"Angus was very highly rated when he was first drafted and we have certainly always held him in that regard."

Monfries was recruited to Essendon from Sturt with pick 14 at the 2004 National Draft. He played 150 games at Essendon, kicking 165 goals.